Should I conduct a Phase 1 ESA, even if I am not involving a lender?

The advantage of conducting an ESA most often cited is that it can establish you as an “innocent landowner”, allowing some protection against CERCLA liability.

The more tangible benefit of conducting an ESA is the knowledge gained in conducting a formal assessment of a property. This benefit is greatly augmented by adding issues to the ESA that are often outside the scope of a standard ASTM Phase 1. This could include:

Describing the manufacturing process

Evaluating environmental compliance

Identifying potential “bottlenecks” created by permit limits or regulations

Evaluating the status of asbestos, lead-based paint and other issues typically excluded from a Phase 1 ESA; this issues are especially important if you intent to demolish and/or renovate existing structures.